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EPE ANNOUNCES 'ORDER FOR AN NOTICE OF FIRST MEETING OF CREDITORS'

    EPE ANNOUNCES 'ORDER FOR AN NOTICE OF FIRST MEETING OF CREDITORS'
    EL PASO, Texas, Feb. 26 /PRNewswire/ -- El Paso Electric Company (NASDAQ: ELPA) announced today that on Feb. 25, 1992, it mailed a copy of the Order for and Notice of First Meeting of Creditors, a "Section 341 meeting" to its creditors.  Due to the unique nature of the case and the high degree of public interest in this proceeding in the El Paso area, the U.S. Trustee will conduct a Section 341 meeting in both Austin and El Paso.  The meeting of the creditors will begin on March 16, 1992, at 10 a.m. at the Capitol Marriott, 701 E. 11th St., Austin, Texas (512-478-1111) and after completion of the meeting in Austin, it will be reconvened on March 18, 1992, at 10:30 a.m. at the Rodeway Inn, 6201 Gateway West, El Paso, Texas (915-772-5518).  The U.S. Trustee will be the presiding officer at the meeting and EPE representatives will be present to respond to creditors' questions.
    EPE also announced that on Feb. 25, 1992, it filed its Schedules and Statement of Affairs with the U.S. Bankruptcy Court pursuant to Bankruptcy Rule 2007.  EPE scheduled the holders of first and second mortgage bonds, to the extent of principal and interest owed as of the Jan. 8, 1992, as not contingent, not unliquidated and not disputed.
    It is not necessary for shareholders to file proofs of interest.
    Any creditor holding a claim that is not scheduled, not properly scheduled, or is scheduled as "disputed," "contingent," or "unliquidated" as to amount and who desires to participate in the case or share in any distribution must file a proof of claim.  The last date for the filing of proofs of claim is June 15, 1992.  All proofs of claim, one original and two copies, must be filed at the following address:
                   U.S. Bankruptcy Court
                   816 Congress Ave., Suite 1420-B
                   Austin, Texas 78701
    A duplicate copy of the proof of claim also must be served on EPE's Texas counsel:
                   Daniel C. Stewart, Esq.
                   Berry D. Spears, Esq.
                   Winstead, Sechrest & Minick P.C.
                   100 Congress Ave., Suite 800
                   Austin, Texas 78701
    Creditors and parties-in-interest with questions concerning the bankruptcy proceeding can use the following toll-free numbers Monday through Friday 8 a.m. to 5 p.m. Mountain Standard Time: 800-592-1634 (within Texas), 800-351-1621 (outside Texas).
    EPE also announced that the Bankruptcy Court has entered order stating that any creditor or party-in-interest requesting copies of pleadings or other papers filed in EPE's bankruptcy proceeding should not contact the Bankruptcy Clerk's office; instead, all document and/or copy requests should be directed to:
                   Xerox Business Services
                   1300 Guadalupe
                   Austin, Texas 78701
                   512-479-0115
    El Paso Electric Company is an electric utility serving approximately 248,000 customers in El Paso and the Rio Grande Valley in Texas and New Mexico.  The company has a 15.8 percent interest in each of the three 1,270-megawatt nuclear units at the Palo Verde Nuclear Generating Station located near Phoenix, Ariz.
    -0-                           2/26/92
    /CONTACT:  Guillermo Silva of El Paso Electric Company, 800-351-1621/
    (ELPA) CO:  El Paso Electric Company ST:  Texas IN:  UTI SU: AH -- NY062 -- 2873 02/26/92 14:25 EST
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Date:Feb 26, 1992
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